Applying for credit cards in Taiwan can be scary and confusing. Many banks may reject you outright or ask for a Taiwanese guarantor to co-sign on the card. However, there are many banks in Taiwan that do not require a guarantor and are friendly to foreigners. There are also many great credit card deals out there in Taiwan that can help you save money, receive special, benefits, and earn rewards. In this blog, we will list some of the best credit cards out there for foreigners in Taiwan.
As a foreigner in Taiwan, I went for a long time without a credit card. The first time I asked CTBC about credit cards, the bank teller told me foreigners were not allowed to have credit cards, which was simply not true. Later when I told people about my experience online, a Taiwan expert was quick to correct me and let me know that he got a CTBC Carrefour credit and other cards with no problem with no guarantor. Now I have three credit cards in Taiwan: the Cathay Platinum Cube Card, the Fubon Costco Card, and Shanghai Bank’s World Card. I will discuss these cards and other cards recommended by foreigners in Taiwan, as well as other general info regarding applying for credit cards in Taiwan.
Banking in Taiwan 臺灣銀行業
If you have no background regarding banking in Taiwan, then I suggest you first read our Taiwan Banking FAQ here or our Comparison of Taiwan Banks here. You can also check out this article about banking in Taiwan published in Amcham Topics Magazine.
How to Apply for a Credit Card in Taiwan 如何在臺灣申請信用卡
You can apply for credit cards in Taiwan online and in person depending on the policy of the bank involved. According to my personal experience, local banks usually will want you to send in some physical paperwork.
Usually, the bank will ask for these documents:
- Signed application form
- Taiwan residence permit copy
- Passport copy
- Proof of employment and proof of salary. Usually, this means you need to prepare 3 to 6 months of salary statements (or financial statements) to prove that you have sufficient financial capability.
Sometimes the bank will give you the option to just pull your salary and credit info from the government database, in which case you just need to sign an agreement form.
Credit Ratings in Taiwan 臺灣的信用評分
Most banks can get your credit rating information from the government database by asking you to fill out a form.
Credit ratings in Taiwan are not the same as in America. Credit scores are not as open and important.
The main thing the bank will want to see is your financial capability and that you are making enough income.
Your income level will affect the credit limit on your card, but every bank’s policy regarding this is different.
If the bank does not offer to check your credit rating on its own, one suggestion is to print out and bring your credit report with you to the bank via the joint credit information center website here. Many bankers assume that immigrants are not included in the credit score system, so plonking the report down under their noses can move the conversation forward. The first report may be free, and it is only NTD150 per copy after that.
One suggestion for anyone struggling to get accepted by banks would be to go for a card that requires an annual fee. You are more likely to get accepted since they can make money off you from day one. That card can then help build up your credit score in Taiwan.
Also, if you have no Taiwan income, chances are that you will be rejected. Start transferring money to a Taiwan account every month for a few months before you apply for a credit card.
Taiwanese Guarantors 臺灣保證人
When applying for a credit card at some banks, they will ask for a Taiwanese national to act as a guarantor (保證人 bǎo zhèng rén). This means the Taiwanese person will be responsible for any debt you fail to pay. Shanghai Bank has this requirement, and my Taiwanese wife had to act as the guarantor for my credit card.
Unless you have Taiwanese family members, probably no one will be willing to act as your guarantor. My friend who works at SinoPac Bank’s Credit Card Department said that according to Taiwanese law, a guarantor is not necessarily required when applying for a credit card. Nevertheless, some banks still have this policy.
If you encounter any issues regarding guarantors, you can try to email the Financial Supervisory Commission and request that the bank provide an official statement. Website:https://www.fsc.gov.tw/
However, I cannot guarantee a positive outcome. If you do not know a Taiwanese person who is willing to act as your guarantor, it is probably best to go with another bank that does not require a guarantor to issue credit cards to foreigners.
Banks That do not Require a Guarantor to Issue Credit Cards to Foreigners 不要求保證人即可發卡給外國人的銀行:
- CTBC 中國信託
- Taipei Fubon Bank 台北富邦銀行
- Taishin Bank / Richart 台新銀行
- E. Sun 玉山銀行
- Cathay Bank 國泰銀行
- Bank Sinopac 永豐銀行
- Union Bank 聯邦銀行
- DBS Bank 星展銀行
- HSBC 滙豐銀行
If there are others, please let us know in the comments!
Investment and other requirements 投資及其他要求
Sometimes some banks will require that you make certain investments or have a certain savings amount with the bank.
Also, some cards may require a certain amount of annual salary.
Not every bank has this policy, but it may be an important consideration for some cards.
Migrant Worker Requirements 外籍勞工要求
For migrant workers, as long as you are employed by a company in Taiwan, or a foreign branch company in Taiwan that transfers your salary into your bank account in Taiwan, then you can apply for a credit card. Some banks may have more requirements for migrant workers, but if you ask enough banks then one is likely to accept you.
If your credit score is not high enough, the bank has the right to reject the issuance of a credit card to a foreigner. In this case, it may be easier to try to apply for a card that has an annual fee.
What if the Bank Rejects my Credit Card Application? 如果銀行拒絕我的信用卡申請怎麼辦？
If a bank rejects your credit card application, there are a number of things you can try:
- First, open a savings account with the bank and deposit some money. When you open a savings account, tell the clerk: ‘I also need a credit card. Could you suggest which one is better for me? (Please mention that you don’t need a debit card.)
- Apply for a credit card through the bank from which you receive your salary. If the account is a salary account (payroll account), it means you have a stable job in Taiwan and an existing relationship with the bank. This makes it easier to apply for a credit card.
- Try to apply for a card that has an annual fee, which may be easier to apply for.
- Apply for the CTBC Carrefour card in Carrefour or the Costco Card in Costco which are easier to apply for.
- If you encounter any issues regarding needing a Taiwanese guarantor, you can try to email the Financial Supervisory Commission and request that the bank provide an official statement. Website:https://www.fsc.gov.tw/
- If the bank does not offer to check your credit rating on its own, one suggestion is to print out and bring your credit report with you to the bank via the joint credit information center website here.
- If you have no Taiwan income, chances are that you will be rejected. Start transferring money to a Taiwan account every month for a few months before you apply for a credit card. However please note that according to some banks, when the application is being reviewed, it’s important that the proof of income (in the case of monthly salary) is always transferred from the employer’s business account in Taiwan. If you get paid in cash and deposit it in a bank account yourself, or transfer money in from another individual’s account, most banks do not accept it as an official income at all. Patient officers may ask for additional proof, but most won’t bother and just reject the application.
- Providing additional proof of assets under your name, such as real estate (without ongoing mortgage), investments in Taiwan, or a lease contract (if you are a landlord/landlady) is a huge plus. However properties such as vehicles or mortgaged real estate are usually considered a burden and slightly decrease the chance of approval.
- Some say that the chances for approval are higher if a credit card application is sent by old-fashioned post directly by an applicant without any referral from a third party. If you apply in branch or via a credit card representative (eg. at a booth in a mall), the bank looks up the clerk’s or representative’s performance history and if they find some discrepancies in their “credit card business” (they are pressured to sell), it may simply get rejected just as that, although you’d qualify under normal circumstances.
- If it’s, at some point in the application’s review process, obvious that it will probably get rejected, it’s recommended to pull it off and cancel the application. An application canceled by the applicant does not affect future applications with another bank, while a rejected application has a record shared among other banks and may result in rejection there, too.
The Best Credit Cards in Taiwan 臺灣最佳信用卡:
Besides the three cards that I use, I asked my followers what the best credit cards for foreigners are. I have included all the suggestions I received on this list below.
Please note that this is not a comprehensive or definitive list of credit cards. There are over 30 banks that offer about 10 credit cards each, so that is about 300 cards to choose from in Taiwan. The rewards and offers change all the time, and also new credit cards are changing all the time, so for the latest information please check each bank’s website.
Cube Card
You can check out the Cube Card Website here.
The cube card from Cathay Bank is one of the most popular cards for foreigners in Taiwan. Most of us have this card probably because Cathay used to have the Costco card before it changed to Fubon. After the Costco card was canceled, Cathay sent us all Cube Cards. The main reason I kept it after Costco was because it links with my eTag for my car.
Benefits:
- 2% cash rewards points on e-commerce, travel, restaurants, and luxury products. You can only choose one category per day and anything you buy on that day that is not part of the category will not count toward the rewards. It can be hard to remember to change categories. The rewards can then be deducted against expenses.
- 0.3% cash rewards on all other purchases.
- You can use the Cathay Cube Rewards App to convert rewards points into airline miles.
- CUBE Card Double Binding: Link your card to two major international mobile payment services (choose one from Apple Pay/Google Pay/Samsung Pay) and LINE Pay to enjoy the following rewards:
[For All Cardholders] Existing cardholders who complete the binding and redeem the coupon in the CUBE app can enjoy up to 2% cashback in LINE Pay reward points (credit card). - [Exclusive for New Customers] New customers who get approved for a card and complete the binding can enjoy up to 5% cashback in LINE Pay reward points (credit card).
※ Monthly reward limit: 500 points per household. - Can Link to eTag
Other Comments:
Jonathan PignatielloI was able to get one from Cathay Bank without a guarantor.
Amazing_Box_8032: I was able to get the Cathay Cube Card from Cathay with no guarantor. (I actually applied before the Cube existed – it was the Titanium Mastercard, later it was changed to a Cube automatically when they phased that card out)
Cathay Shoppee Card 國泰蝦皮卡
Website: https://www.cathaybk.com.tw/cathaybk/promo/event/credit-card/product/shopee2024/index.html?sc_lang=en
I just noticed this card while researching this blog and I thought I would share it because Shoppee is the most popular online shopping app in Taiwan.
Benefits:
- Up to 26% cash back rewards on Shoppee Purchases
- No fees on overseas purchases
Cathay Cube Rewards APP
The best part about having a Cathay Card is that you can use the Cathay Cube Rewards App to convert rewards points into airline miles. 360 points convert into 1000 miles For EVA Air. Also, the app can convert miles for China Airlines, Emirates, United, British Airways, Qatar Airways, Hainan Airlines, Japan Airlines, Marriot, and more.
Fubon Costco Card
Webiste: https://www.fubon.com/banking/personal/credit_card/all_card/costco/costco.htm
The Fubon Cotco Card is relatively easy to get. There are always Fubon Bank people sitting at Costco ready to help you fill out an application. All I had to do was fill in the form, sign an agreement, and let them take a photo of my APRC. No guarantor is needed. My credit limit is 200,000 NT, which is the highest of any card I have.
Benefits:
- 2% cash reward points on purchases in Costco Stores
- 3% cash rewards points on purchases from Costco’s Website
- 1% cash rewards on all other purchases
- The only credit card accepted by Costco Taiwan
Other comments:
Timothy Paul: I was able to get a credit card through Costco and Fubon bank.
CTBC Line Pay Card
Website: https://www.ctbcbank.com/twrbo/zh_tw/cc_index/cc_product/cc_introduction_index/C_LINEPay.html
CTBC has lots of cards, but one that foreigners recommended was the Line Pay card.
Benefits:
- Links with Line Pay
- Up to 17% rewards
- 2.8% rewards on physical stores overseas
- Can link with eTag for cars
Other Comments:
Life_Maleficent I also have several through CTBC now. And a few more for specific purchases now. Once you get one, they don’t stop. CTBC has the best English app by far.
metuysja
CTBC gave me a CC without needing a guarantor even though I didn’t have an account with them. Limit was lower than my Cube card though. My wife had a CTBC acc before applying and got 150k limit.
CTBC then refused to open a savings account for me… So, you know… Taiwan bank things.
zehnodan: My experience with CTBC, is that if you get a person who is unsure about something, they will tell you it can’t be done rather than ask for help. So it might be worth trying again with a different person.
E. Sun Starlux Card 玉山星宇航空聯名卡
Website: https://www.esunbank.com/en/personal/credit-card/intro/co-branded-card/starlux-card
Benefits:
- 10 NT earns one mile for Starlux Airlines for overseas purchases, and 15 NT earns one mile for domestic purchases
- Get 50,000 miles for spending over 50,000 NT in 90 days.
- Get 30,000 miles for renewing the card
- Up to 10% off Starlux tickets
- Can link with eTag for cars
Other Comments:
Ric Hard: E.Sun Bank. The card is STARLUX world. I already got a free round trip ticket to USA just for using.
E. Sun Carrefour Card 家樂福悠遊聯名卡
Website: https://www.esunbank.com/en/personal/credit-card/intro/co-branded-card/c4-card
The E. Sun Carrefour card is one of the easiest cards to get and can be worth it if you shop at Carrefour a lot.
Benefits:
- More rewards from Carrefour
- Free Carrefour Parking
- Up to 10% cash back
- Easier to earn Carrefour Points
- Can link with eTag for cars
E. Sun Unicard
Unicard Website
The Unicard seems to be similar to the Cube Card. It seems pretty good, but it looks like there is only 2% cash back for the “top 100” stores, whereas Cube Card is 3% for the sector you choose, but you have to keep changing it every time you buy a new category of product.
Benefits:
- Up to 5% rewards
- 2% cash back for the “top 100” stores
- Can link with eTag
Other Comments:
SpotnDot123 Esun unicard. Newly launched similar to Cathay cube. Got one with $300,000 limit
HSBC Travel Card
Website: https://www.hsbc.com.tw/en-tw/credit-cards/products/travel/
This card was recommended by many of my fans. It has some great benefits.
Benefits:
- Overseas spend: NT$10 = 1 mile
- 15+ airlines and over 10,000 hotels for redemption
- 4 complimentary airport transfers per year
- 8 times Airport Lounge access per year
- Free airport parking
Other comments:
@Atai0223 I got HSBC 旅人御璽卡, which is good for earning miles (15ntd-1miles) First I put 2,000,000ntd in my bank account (then applied) *need to have APRC *no need guarantor
wuyadang: I’m starting to really think HSBC is the best bank in Taiwan… everytime I see these posts and share and read others’ experience.
I have an HSBC cc and the limit is much higher than anything else in this thread.
The app’s interoperability with credit cards is almost nothing, though. Use it to pay the cc bill and that’s it. Also it takes 1 business day to post.
I’ve used Cathy’s credit card before when they were with Costco, and it was decent.
Eugene EybersI use HSBC Infinite business as my credit card in Taiwan . Was easy to obtain
Other cards from HSBC: https://www.hsbc.com.tw/en-tw/credit-cards/
DBS Travel World Business Card
Website: https://www.dbs.com.tw/personal/products/creditcards.page
Other people also recommended DBS cards.
More cards: https://www.dbs.com.tw/personal/products/creditcards.page
Benefits:
- Domestic rebate 1.2%
- Overseas rebate 2.52% cashback
- Complimentary City Parking (1 time per day, up to 2 hours parking)
- Up to 15% off for bookings on Agoda
- Online shopping protection for an insurance cover for up to USD$800 a year
- And many more depending on the card
Other comments:
DBS 星展銀行 · FollowHello, thank you for your message. Regarding your inquiry about credit card rights and interests, you are welcome to call our 24-hour customer service hotline: 02-6612-9889. We will serve you wholeheartedly. Thank you.
DBS Bank official website: https://go.dbs.com/3EuXlIl
In addition, because FB is a public platform, we cannot query and reply to your account information. Please do not provide personal financial information on FB!
Taishin Bank / Richart 台新銀行
Website: https://www.taishinbank.com.tw/TSB/personal/credit/
Taishin is another popular bank for foreigners when it comes to credit cards.
Benefits:
- Up to 3.8% cash back
- Many other benefits. See website for details.
- Can link to eTag.
Other Comments:
Dominic Sim: i have 2 from Taishin bank. so far quite reliable for me. But I can’t compare with others. This is the only bank that approved for me. No guarantors too.
aleyp58 I got a credit card from Taishin no questions asked for 200k.
Taishin Gogoro Rewards Card
This card seems like a good one, if you have a Gogoro! Website: https://www.taishinbank.com.tw/TSB/personal/credit/intro/overview/cg042/card001/
Benefits:
- Up to 15% rebate on Gogoro products
- 2.5% rebate on overseas purchases
- 1% rebate on domestic purchases
List of cards from Taishin: https://www.taishinbank.com.tw/TSB/personal/credit/intro/choose/result/
Sinopac Card 永豐卡
Website and list of cards: https://bank.sinopac.com/sinopacBT/personal/credit-card/introduction/list.html
Sinopec is another bank that many foreigners use.
Benefits:
- Up to 10% rebate if used with other mobile payment apps
- Discounts with many major malls in Taiwan
Other Comments:
obionejabronii Sinopac didn’t ask me for a guarantor but the limit was kinda low. $30k but it was enough since I don’t spend a lot. Got another card with Costco later
Union Bank / Line Bank 聯邦銀行
Website: https://card.ubot.com.tw/
Union Bank is another credit card provider that is friendly to foreigners.
Benefits (Line Bank Card):
- Certain Online purchases: 3% rebate
- Certain Restaurants: 5% rebate
- Other domestic purchases: 1% rebate
- Overseas purchases: 2.5% rebate
Comments:
d_oct: I have a Unionbank Linepay credit card and get line points as a reward. I use Line & Line Pay quite regularly, so this is a pretty good card for me.
Also, I never even went to the actual Union Bank location. I submitted the form & supporting documents online, and got the card in like 4 days after the application date.
Shanghai Bank Card 上海銀行卡
Website: https://www.shacombank.com.hk/eng/personal/cards/type/personal/personal.jsp
I use the Shanghai Card and they did require a guarantor. Initially, the credit limit was only 50,000 NT. However, there are quite a few benefits:
Benefits:
- Up to 3% overseas rebate
- 1% rebate on domestic purchases
- 15 days of free airport parking
- Free roadside assistance
- Travel Insurance
- Can autopay my gas, water, and electricity
Mega Bank Employment Gold Card Credit Card 就業金卡客戶服務專頁
Website: https://www.megabank.com.tw/Personal/Credit%20Card/Cloud%20Page/Mega_DualCurrencyCard
Mega Bank offers a card made especially for Employment Gold Card holders. You need a Mega Bank account to apply for this card. However, according to the website above it appears you don’t actually have to be a gold card holder to apply.
Benefits:
- 2.5% rebate on foreign transactions
- 1% rebate on domestic transactions
- Travel insurance for public transportation
- Foreign exchange discount
- Include use in USD and JPY
American Express 美國運通
American Express Taiwan Website
American Express offers credit cards to foreigners in Taiwan. There is a big difference in benefits between different cards, as well as annual fees. For instance, the gold card annual fee is only 2500 NT, whereas the Platinum card annual fee is over 36,000 NT. For more information, you can visit their website.
Benefits:
- Redeem points with EVA Air
- Get the cash and EVA Air miles by opening a card
- Free airport parking
- Agoda discounts
Comments:
ehweo: If you have APRC, you can try American Express. They need proof that you have about 400k NTD on a local bank account I think. You get points that can transfer to miles, 8% discounts from Agoda and other hotel websites, and 15 days of free airport parking
American Cards 美國卡
Chase Sapphire https://creditcards.chase.com/rewards-credit-cards/sapphire
Another option you can choose is using a credit card from your home country, such as Chase Sapphire. However, there is an annual fee. There are two types of cards: preferred and reserve. The annual fee for reserve is more expensive but it has more benefits
Benefits:
- No overseas fees
- 3x points on dining
- 2x points on travel
- Travel cancellation insurance
- Rental damage waiver
- Travel credits
- Airport Lounge Access
- Global Entry or TSA Precheck Credit
Credit Card Banks that Automatically Can Refill eTag for Cars in Taiwan 能自動補充eTag的信用卡銀行:
- Cathay Bank 國泰銀行
- E. Sun 玉山銀行
- CTBC 中國信託
- Taishin Bank / Richart 台新銀行
- Far Eastern International Bank 遠東國際商業銀行
Frequently Asked Questions 常見問題:
Q: Can foreigners apply for credit cards in Taiwan?
A: Yes. I have three credit cards. Every bank in Taiwan has a different policy when it comes to credit cards. The first time I asked, a teller told me that foreigners are not allowed to have credit cards. This is simply not true.
Q: What benefits do Taiwan credit cards have?
A: Because the banking industry is competitive in Taiwan, there are hundreds of credit cards out there with various benefits. You should get a credit card! Here is why:
- Cash back rebates: most cards in Taiwan offer 1-3% cash back on every transaction depending on the card. This is money in your pocket if you can meet the monthly payments. This also means you can use your Taiwan credit card to buy stuff from your home country and get cash back that makes up for forex fees, meaning you do not have to waste your home currency. Do not buy things that you cannot afford, because the interest on credit card payments is really ridiculously high.
- You can build credit with your bank (if you are thinking of taking out a loan with them)
- Many credit cards in Taiwan automatically have traveler’s insurance covered for flights you purchase with the card (you may need to let the credit card company know in advance)
- Many credit cards offer gifts if you spend over a certain amount. For instance, I got a free waffle maker and a duffle bag.
- Many cards offer free roadside assistance/tow truck if your car breaks down.
- Many cards offer free airport parking or discounted taxi trips to the airport. This alone has saved me tons of time and money.
- Many chain stores and brands offer their own credit card so you can save even more if you are already a frequent shopper.
Q: How do I apply for a credit card in Taiwan?
A: Basically there are four ways I have heard to get a credit card in Taiwan:
1. Through a financial background check. The bank issuing the card will have you sign a form that allows them to check your annual salary with the tax office. This is the easiest way to get a credit card. Stores like Costco and Carrefour will offer these kinds of cards that are easy to get.
2. Through a tax guarantor. This means that another Taiwanese person will act as your tax/legal guarantor, so if you do not make payments in time they will be responsible. Usually, this would be your spouse or family member. Some banks like Shanghai Bank will require this.
3. Through guarantee deposit. Basically, you would deposit the amount of the credit card limit into the bank, which the bank would use as collateral if you do not make payments. Some banks may require this if you do not have a tax guarantor.
4. Through annual fees. If the card has an annual fee, then the bank is sure it can make money off of you.
If you are an American or European, expect to also sign a W-2 or other CRS form as part of applying for a credit card.
Q: How do I pay my credit card bill in Taiwan?
A: You can pay your credit card bills usually through a bank account direct deposit/wire transfer or you can pay the bills at any convenience store.
Credit card bill may be automatically deducted from a bank account, even from a different bank, without any additional fees. Most banks give a choice of deducting the whole amount or the minimum due amount for the current bill. No need to think about these payments every month or running with cash to a convenience store.
Please note that some banks don’t allow the minimum bill payments and require foreign nationals to pay the full amount at once every month.
Some people claim they can pay off their card with another card but I have doubts that this is possible in Taiwan.
Q: Are there credit scores in Taiwan?
A: No, but there is a credit bureau in Taiwan called JCIC (Joint Credit Information Center), and limited credit history information is available to the general public including alien residents, but people do not have credit scores.
If the bank does not offer to check your credit rating on its own, one suggestion is to print out and bring your credit report with you to the bank via the joint credit information center website here.
Q: How do I check my credit score/credit history in Taiwan?
A: You can personally apply to check your credit scores and history for free every calendar year.
You can print out your credit report from the joint credit information center website here.
Banks will look at your past monthly salary amounts or will have you sign a form that allows them to check your annual salary and credit information with the tax office.
Credit history matters when you try to apply for credit cards or loans from banks in Taiwan, but in practice doesn’t play as big of a role as in the U.S.
Q: How often are credit cards accepted in Taiwan?
A: Credit cards are accepted in most chain stores and restaurants in Taiwan, as well as online retailers.
Some stores only accept cards from Taiwan, not overseas.
Small businesses and restaurants usually do not accept credit cards. Also, credit cards are usually not accepted at night markets or street vendors. However, many other payment methods such as Line Pay and Easy Card are accepted by these smaller vendors, which can then be linked to your credit card.
Q: How do I get the best/highest credit limit possible?
A: Apply first with the highest Taiwan income possible and best credit score (see section above). It’s wise to apply for a permanent credit limit adjustment every June after filing taxes. With a good history, banks usually get you a higher credit limit without many questions, even if your salary hasn’t changed.
Other Comments about Credit Cards in Taiwan 關於臺灣信用卡的其他評論
- Aftabuddin Shaikh: Usually the bank where you account will let you have a credit card easily
- Htoo Aung Win: Spouse’s credit card is the best. Jokes aside, Cathay is definitely one of the best. No guarantor is needed.
- Lai Kuen Seimao Chan: I’m still using a Taiwan debit card, and credit card from my home country
- Doug Jacobs: I’m pretty sure my credit card from CTBC doesn’t have a guarantor. But at the same time, my wife (Taiwanese) has an account at that bank as well and I have a spouse ARC so who knows what sort of issues I’ve unknowingly avoided. One tip, though. If you can choose your card’s design, choose one that is undeniably “Taiwanese.” My card is bright yellow and has Brown Bear, from Line Friends drinking a boba tea. Unlike my TW Costco card, it cannot be mistaken as a “foreign” credit card. The reason is, that some vendors will refuse “Foreign Credit Cards” but this really means they’re just wary of taking credit cards from foreigners, regardless of which bank the card is actually from. This has only happened to me once but it was enough to convince me to be mindful of choosing my card’s designs from now on. And anyway, who wants another boring grey or black card?
- Elias Ek: It is not about laws anymore, it is all about what the banker thinks. I have credit cards with 4 different banks and no guarantors. My wife tells me to mainly use the Cathay one for the airline miles.
- Roberto Ribas: I use my US card, the one I have has zero foreign fees, a better exchange rate than I can get in the bank, and I get 2.64% back. Also, I can tap the phone app to pay at vending machines or 711. I literally use this for everything. Coffee for 60 TWD Click. Gas for scooter? Click. Bottle of water for 1
- Francis Chambers: Some places don’t accept credit cards, some don’t accept foreign ones, and don’t some places only accept certain, not all, Taiwanese credit cards? Cash still seems to be essential in Taiwan.
- Elias Ek One suggestion for anyone struggling to get accepted by banks would be to go for a card that requires an annual fee. You are more likely to get accepted since they can make money off you from day one. That card can then help build up your credit score in Taiwan.
A related suggestion is to print out and bring your credit report with you to the bank. many bankers assume that immigrants are not included in the credit score system, so plonking the report down under their noses can move the conversation forward.
I believe the first report every year is free and at least it used to be NTD150 per copy after that.
https://member.jcic.org.tw/main_en/index.aspx - Hai Phung Cathay and CTBC do not need guarantors, just provide them your salary bank passbook.
- SpotnDot123 No bank has refused me a CC. I have 4 now.
- Amazing_Box_8032: You can always put your own cash on there (I.e. overpay the account) if you need a greater balance. But that is an extra low limit – generally the limit should be at least equivalent to 1 month’s salary. Also once you’ve maintained a good history for a while you can request an increase. I’ve kept my limit relatively low (70k) in order to keep my spending down and be able to ensure I can pay the account off in full every month. I probs wouldn’t trust myself with a 200-300k limit.
- middleagedgaming: I’ve got three and in my experience, E.Sun is the best. The best security in terms of the app and their MFA is the best I’ve experienced in 15 years. Number 2 is Cathay but the credit limit kind of sucks. Only 100K. I loved Citi (DBS) before but you can’t use that card at many places. That being said, they gave a great credit limit.
- Wanrenmi I’ve got 5 credit cards in Taiwan with no guarantor (Cathay, Fubon, CTBC/LINE, UnionBank, E-Sun). The thing with them is that they usually have some great cash-back percentage at first, but it expires after a year or so. Or it goes from 3% to 1% or whatnot. It can get really, really complicated when you have a few of them. I literally have stickers on them to remind me of which one to use and where. Like “online” “domestic” “MRT” etc
- Life_Maleficent I got turned down a lot when I first tried but kept at it and got a Citibank card which then turned into DBS. Then I got Cathay through Costco which turned into Cube and then Fubon. I also have several through CTBC now. And a few more for specific purchases now. Once you get one, they don’t stop. CTBC has the best English app by far.
- Raggenn I do not believe Taiwan has anything close to a good credit card that foreigners can get. Years ago when I tried to get the E.SUN carrefour card, they said they would only give it to me if I opened a checking account with them and kept a min. balance of 30,000 NTD. Just seemed like a debit card with extra steps at that point. If you are American get the Chase Sapphire Card if you want rewards. If you aren’t, you are probably SOL on getting a good CC in Taiwan.
Conclusion 結論:
There is no right or wrong answer as to the best credit card for foreigners in Taiwan. It all depends on what you like to spend money on and what rewards mean the most to you. It is probably good to do more research on other cards in Taiwan before you make a decision.
Also, be sure to pay your credit card bills on time to avoid interest on payments. If not, you could find yourself in a spiraling debt trap. Do not take on debt that you cannot afford, or else it will defeat the purpose of all those credit card benefits. After all, that is how they make money.
Did we miss anything? Let us know in the comments below.
